NFT markets are developing rapidly, trading volumes surpass several billion dollars so it would be strange if crooks didn’t take a chance in this segment. Thus the fake NFTs were sold. The scammer managed to deceive a naive buyer and therefore sold him an NFT under the name of the famous artist Banksy for $338,000. The victim later got their money back, but the story could have ended badly. If you want to know about the most prevalent types of fraud on the NFT market as well as how you can avoid them, we will explain it in this article.
Fraud types in NFT world